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Arisz Acquisition Corp. Closes Its Business Combination with BitFuFu (Finfront Holding Company)

Trading Under New Ticker Symbol “FUFU” Expected to Begin Friday, March 1, 2024

New York, NY, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Arisz Acquisition Corp. (NASDAQ: ARIZ) (the “Arisz”), a publicly traded special purpose acquisition company, announced the completion of its business combination (the “business combination”) with BitFuFu (Finfront Holding Company) (“BitFuFu”). BitFuFu is a fast-growing company in the digital asset mining industry and is dedicated to fostering a secure, compliant, and transparent blockchain infrastructure by providing a variety of stable and intelligent digital asset mining solutions.  

The shareholders of Arisz Acquisition Corp. approved the transaction at a special meeting  of shareholders on February 28, 2024, and the transaction was also approved by BitFuFu’s shareholders. The listed company following the Business Combination is BitFuFu Inc., and its Class A ordinary shares and warrants is expected to commence trading on the Nasdaq Stock Market under the ticker symbols “FUFU” and “FUFUW,” starting March 1, 2024.

Leo Lu, Founder and CEO of BitFufu said “I would like to thank all of our shareholders, employees, partners, and stakeholders who have been instrumental in achieving this pivotal milestone in our journey. BitFuFu’s listing on NASDAQ marks a new chapter that will enable us to continue our rapid growth trajectory and expand our global footprint in the digital asset industry. As a fast-growing digital asset mining service and world-leading cloud-mining service provider, we enable both institutional and digital asset enthusiasts the ability to mine more efficiently. The proceeds from this transaction will fuel the expansion of our offerings, which encompasses cloud-mining, self-mining, and miner hosting. As we transition into a public company, we are committed to upholding the highest standards of corporate governance and transparency, and are in a stronger position than ever to execute on our vision of becoming the world leader in digital asset mining.” . 

Echo Hindle-Yang, Chairwoman and CEO of Arisz Acquisition Corp. commented, “We are thrilled to announce the successful completion of our merger with BitFuFu, and officially list the company on Nasdaq, a significant step that reinforces the leadership in the global cloud mining and rapidly evolving digital asset services sector. Under the leadership of Leo, the BitFuFu team is poised to enhance its market dominance, thanks to its industry-leading technology platform and advanced mining machines, uniquely supplied by Bitmain as their exclusive strategic partner. This merger is further empowered by a significant $74M PIPE investment, aimed at accelerating BitFuFu’s already prominent position in the industry. We eagerly anticipate BitFuFu’s continued success and innovation in this exciting new chapter.”

About BitFuFu

BitFuFu is a fast-growing digital asset mining service and world-leading cloud-mining service provider. BitFuFu received early investment from Bitmain, a world-leading digital asset mining hardware manufacturer, and remains Bitmain’s sole strategic partner in the cloud mining space.

BitFuFu is dedicated to fostering a secure, compliant, and transparent blockchain infrastructure, providing a variety of stable and intelligent digital asset mining solutions to a global customer base. Leveraging its expanding global mining facility network and strategic partnership with Bitmain, BitFuFu enables institutional customers and digital asset enthusiasts to mine digital assets efficiently. With a robust business model covering cloud-mining, miner hosting, and self-mining, BitFuFu is well-positioned to weather market volatility and facilitate the vertical integration of global digital asset mining industry.

About Arisz Acquisition Corp.

ARIZ is a blank check company formed for the purpose of effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.


Chardan acted as exclusive M&A and Capital Markets advisor to Arisz.

Wilson Sonsini Goodrich & Rosati, Harney Westwood & Riegels, and Hunter Taubman Fischer & Li, LLC acted as legal counsels to Finfront Holding Company. Loeb & Loeb LLP  acted as legal counsel to Arisz. Moritt Hock & Hamroff LLP acted as legal counsel to Chardan.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements also include, but are not limited to, statements regarding projections, estimates and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations,  BitFuFu's ability to scale and grow its business, BitFuFu's advantages and expected growth, BitFuFu’s ability to source and retain talent, and BitFuFu's cash position following closing of the Business Combination, as applicable. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of BitFuFu's management and are not predictions of actual performance. These statements involve risks, uncertainties and other factors that may cause BitFuFu's actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by these forward-looking statements. Although Arisz believes that it has a reasonable basis for each forward-looking statement contained in this press release, Arisz cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. The forward-looking statements in this press release represent the views of Arisz as of the date of this press release. Subsequent events and developments may cause those views to change. Except as may be required by law, Arisz does not undertake any duty to update these forward-looking statements.

For investor and media inquiries, please contact:

BitFuFu Investor Relations

Arisz Acquisition Corp.
Arisz Investor Relations

Christensen Advisory

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